Ecuador: Cocoa Butter Market 2024

Cocoa Butter Market Size in Ecuador

In 2022, the Ecuadorian cocoa butter market decreased by X% to $X, falling for the second year in a row after five years of growth. In general, the total consumption indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2020 indices. Cocoa butter consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Cocoa Butter Production in Ecuador

In value terms, cocoa butter production expanded modestly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a resilient increase. The pace of growth was the most pronounced in 2016 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

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Cocoa Butter Exports

Exports from Ecuador

In 2022, shipments abroad of cocoa butter was finally on the rise to reach X tons for the first time since 2017, thus ending a four-year declining trend. Over the period under review, exports, however, continue to indicate a pronounced setback. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, cocoa butter exports surged to $X in 2022. Overall, total exports indicated a mild increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The United States (X tons), Peru (X tons) and Germany (X tons) were the main destinations of cocoa butter exports from Ecuador, together accounting for X% of total exports. The Netherlands, Argentina, Chile and Russia lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Russia (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Peru ($X) and the Netherlands ($X) constituted the largest markets for cocoa butter exported from Ecuador worldwide, together comprising X% of total exports. Germany, Argentina, Chile and Russia lagged somewhat behind, together comprising a further X%.

Russia, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average cocoa butter export price stood at $X per ton in 2022, falling by X% against the previous year. Overall, export price indicated a noticeable increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cocoa butter export price decreased by X% against 2017 indices. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the average export prices remained at a lower figure.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Peru ($X per ton) and Chile ($X per ton), while the average price for exports to Germany ($X per ton) and Russia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (X%), while the prices for the other major destinations experienced more modest paces of growth.

Cocoa Butter Imports

Imports into Ecuador

For the third year in a row, Ecuador recorded growth in purchases abroad of cocoa butter, which increased by X% to X tons in 2022. Overall, imports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of X%. Imports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, cocoa butter imports soared to $X in 2022. Over the period under review, imports posted a significant increase. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in years to come.

Imports by Country

In 2022, Brazil (X tons) was the main cocoa butter supplier to Ecuador, with a X% share of total imports. It was followed by the United States (X kg), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from Brazil totaled X%.

In value terms, Brazil ($X) constituted the largest supplier of cocoa butter to Ecuador, comprising X% of total imports. The second position in the ranking was held by the United States ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Brazil stood at X%.

Import Prices by Country

In 2022, the average cocoa butter import price amounted to $X per ton, growing by X% against the previous year. In general, import price indicated noticeable growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cocoa butter import price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2017 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2018 to 2022, the average import prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Brazil totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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